Lahore Chinese investor sets up textile factory in Pakistan’s Lahore
Lahore: China-Pakistan Economic Corridor Authority Chairman Lt Gen (retd.) Asim Saleem Bajwa has termed an export-oriented textile factory, established by a Chinese investor in the country’s most fashionable city Lahore, as a role model for new special economic zones.
In a tweet on Wednesday, the CPEC Authority chairman said, “A huge export-oriented textile factory put up by a Chinese investor providing 5000 jobs & is all set to expand, promising to create 20,000 jobs.”
Bajwa exuded confidence that the factory will boost Pakistan’s industrial output and exports, Pakistan Today reported.
Earlier, talking to the media during his visit to the factory, which has been established with a Chinese investment of USD 150 million, Bajwa said more economic zones are being established under the CPEC “which would bring more Chinese investment in Pakistan and provide all possible facilities to foreign investors”.
He said the investment of around USD 13 billion has already been made in various sectors under the mega project while an additional investment of USD 12 billion is in the pipeline.
Expressing satisfaction over the establishment of the factory by China’s leading garment makers Challenge Group, Baja said the company the owner was now keen to establish his own special economic zone in Pakistan that would be exclusively an export-oriented zone and all the goods produced by that SEZ would be exported to other countries.
Bajwa said more Chinese companies are lining up for investment in Pakistan’s industrial sector and soon all would be accommodated.
He said the visa date is also being extended for the Chinese investors as the period of visas is being increased from three months to two years. He said CPEC is bringing an economic revolution in Pakistan and its benefits could be witnessed clearly in Gwadar port city.
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